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March 05, 2009

More Mortgage Help for Home Owners

Finally we are seeing the help we have all been waiting for! Not just more money for banks to spend wherever they please but real incentives for banks to do the right thing! Foreclosures are hitting new hits even as the sub prime mortgages that things started in is over half way through their interest resets. Mainly because as the economy softens more people are losing their jobs and subsequently their homes as their ability to find a new job dwindles.

This new plan is sorely needed and includes help with renegotiated terms that can save few hundred to a thousand dollars a month in an individual mortgage payment. It does not come at no cost but speaking for myself I would much prefer my tax dollars go to helping families rather than Wall Street! The total cost is estimated at $75 million.

This is welcome news for today's sellers as it will translate into less competition in the long run and hopeful a rise in there homes value!

For question feel free to call or email me, you can also visit www.watersrealtymn.com for more market information.

Comments

More Mortgage Help for Home Owners

Finally we are seeing the help we have all been waiting for! Not just more money for banks to spend wherever they please but real incentives for banks to do the right thing! Foreclosures are hitting new hits even as the sub prime mortgages that things started in is over half way through their interest resets. Mainly because as the economy softens more people are losing their jobs and subsequently their homes as their ability to find a new job dwindles.

This new plan is sorely needed and includes help with renegotiated terms that can save few hundred to a thousand dollars a month in an individual mortgage payment. It does not come at no cost but speaking for myself I would much prefer my tax dollars go to helping families rather than Wall Street! The total cost is estimated at $75 million.

This is welcome news for today's sellers as it will translate into less competition in the long run and hopeful a rise in there homes value!

For question feel free to call or email me, you can also visit www.watersrealtymn.com for more market information.